By Marisa Wong
Morgantown, W.Va., May 7 – Bank of Montreal priced $1.28 million of notes due April 25, 2022 linked to the Raymond James CEFR Domestic Equity Price Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The index consists of closed-end funds that are included in either the Morningstar U.S. Sector Equity category or the Morningstar U.S. Equity category. The reference funds that make up the index are selected by the closed-end fund research department at Raymond James & Associates, Inc.
The notes will pay a quarterly coupon based on the dividends paid on the reference funds during the preceding quarter.
The payout at maturity will be par plus 95% of the index return. The index must gain by at least 5.26% in order for the payout to be greater than par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Notes
|
| Underlying index: | Raymond James CEFR Domestic Equity Price Return index
|
| Amount: | $1,278,000
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| Maturity: | April 25, 2022
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| Coupon: | Quarterly coupon based on the dividends paid on the reference funds during the preceding quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus 95% of the index return
|
| Initial level: | Average of index closing levels on four trading days beginning with the pricing date
|
| Final level: | Average of index closing levels on four trading days ending April 19, 2022
|
| Pricing date: | April 18
|
| Settlement date: | April 25
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.5%
|
| Cusip: | 06367WKF9
|
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